Epic Fail Guy.
Posted on 09/16/2008 4:22:50 PM PDT by rabscuttle385
The Federal Reserve is considering an $85 billion rescue for embattled American International Group that could leave the government in control of the firm, according to people familiar with the matter, though the structure of a deal remains unclear.
(Excerpt) Read more at online.wsj.com ...
This is just the beginning. Be watching for a bail out of Ford, GM, Chrysler, United Airlines, Delta, trucking (etc.). In the end our money will be worthless and a depression ensues.
I’m following the developments at the financial blog Calculated Risk. As someone there put it, at this point the Federal Reserve has literally become a taxpayer-funded hedge fund.
You are looking at the grossest expansion of federal executive power in recent history.
Where will it stop? How many institutions is the government going to nationalize? Why are more people not bothered by this?
China is our banker. If they want AIG bailed out, the Fed had damn well better start bailing. Paulson and the Administration don't get a vote - and neither do the taxpayers.
We have become the Union of Socialists States of America (USSA).
A tax cut shouldn’t be a problem since they’re not concerned about giving it away. It’s a one party cartel.
That's less than half of it. They are just being told what to do by the Feds.
The thing to really keep an eye on is the largest expansion of Federal Reserve power in history.
in capitalist russia, stock markets crash.
in soviet america, stock markets crash you.
I'd cry if I didn't laugh.
I guess Lehman didn’t donate enough to the politicians in charge.
I read that AIG will begin selling some of its assets within 2 weeks to begin repaying the loan, thereby reducing the warrants.
I'm basing this mostly on the Tom Sullivan shows of the last two days. My understanding is that AIG's assets include some very expensive property, corporations, and stuff like that.
The problem I believe is that it will take time to sell the assets otherwise the assets would have to be virtually given away to sell them immediately.
If it is down to the US Gooberment, its employees, their pensions and your grandkids being worked like Haitian street dogs on Chinese Food Day, the kids lose.
If AIG goes down .... it could hurt so many people.
They are so big, they are part of the DJ average.
If they crash .... wow.
If they bail it out and sell it off or have them pay back, that might be best.
It happens all the time and letting business take it's course to create a better business atmosphere via losers and gainers is a true defining factor of a "FREE COUNTRY".
Government dictation is the definition of totalitarianism.
A lot of people don’t get this. AIG insures a bunch of government bonds. Without them cities and states couldn’t run deficits. That’s why NY offered up a chunk of change.
Perhaps, better a slow decline then a trapdoor failure.
Mayer Amschel Rothschild:
“Give me control of a nation’s money
and I care not who makes the laws.”
to put it in a nutshell, the Creature from Jekyll Island; then along came Greenspan....then further along came Christopher Cox.......the saga continues with Fannie, Freddie, and now AIG......
Epic Fail Guy.
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